Skin Care Products Market Revenue to Hit US$ 204.62 Billion by 2030

Skin Care Products Market (By Gender: Male, Female; By Products: Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, Face Masks, Others; By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030

The skin care products market size is expected to reach around US$ 204.62 billion by 2030, growing at a CAGR of 4.6% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.

The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2022 to 2030. The skin care products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

The creams, powders, and lotions are all examples of skin care products that improve and nourish the quality of skin. A variety of men and women use these items on a daily basis for a variety of reasons, including hydrating, moisturizing, and cleansing. The organic and natural skin care has become increasingly popular recently. This is due to public awareness of synthetic chemicals’ negative effects on the skin.

The natural ingredients such as leaf extracts and root extracts are safe to use on the skin because they have no negative effects. The skin care products have seen an increase in demand in recent years as people have become more aware of the different benefits of utilizing them. As a result, the demand for natural and organic skin care products has increased, making it a key segment in the cosmetic and wellness market.

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Skin Care Products Market Scope

Skin Care Products Market Report Highlights

• Based on the gender, the female segment dominated the global skin care products market in 2020 with highest market share. Females are more aware of the many skin care products available on the market for various applications, which is increasing product demand on a large scale.
• Based on the products, face creams and moisturizers segment is estimated to be the most opportunistic segment during the forecast period. The brightening, acne removal, moisturizing, dark circle removal, oil reduction, sun protection, and night cream are just a few of the uses for them.
• Based on the distribution channel, the supermarkets and hypermarkets segment dominated the global skin care products market in 2020 with highest market share. The convenience and ease with skin care products can be purchased from supermarkets and hypermarkets is likely to boost the market growth.

Skin Care Products Market Regional Snapshot

Asia-Pacific is the largest segment for skin care products market in terms of region. This is due to the rising standard of life, the growing purchase population, and the growing working-class population in the region.

North America region is the fastest growing region in the skin care products market. The skin care products market in North America is predicted to rise due to greater awareness of skin nutrition products as a result of improved availability to a diverse range of brands.

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Skin Care Products Market Dynamics

Drivers

Surge in demand for anti–aging products

The old age people or geriatric population is growing at a rapid pace. This population faces skin care problems which can be treated with proper products and techniques. This has emphasized the importance of utilizing anti-aging products on a large scale. The anti-aging products help people to improve and enhance their skin complexion and quality. That’s the reason, the geriatric population is spending good amount of money on the purchase of anti-aging products such as face cream and anti-wrinkle cream.

Moreover, the key market players have started investing heavily on the production of anti-aging products. The new product launch is also helping market players to tap the untapped markets globally. As a result, the surge in demand for anti-aging products is driving the growth of the global skin care products market over the projection period.

Restraints

High cost of skin care products

Some of the skin care products are very costly. The reason being that the organic products require long time period of production and extraction. The premium skin care products are expensive as compared to normal or regular skin care products. Thus, this factor is hindering the growth of the skin care products market during the forecast period.

Opportunities

Technological advancements

The skin care products soften the skin and revitalize the cells, resulting in a more youthful appearance. The artificial intelligence and internet of things-based gadgets that provide individualized skin nourishing solutions to individuals are gaining momentum in the personal care and beauty market, which is predicted to drive product demand. As a result, technological advancements is creating lucrative opportunities for the growth of the global skin care products market during the forecast period.

Challenges

Excessive use of skin care products

The burning sensations, redness, and skin irritation, quick ageing of skin cells, and discoloration can all come from long term usage of cosmetic and skin care products. Some skin care products are only for certain skin types such as oily and dry skin. The consumers, on the other hand, are prone to purchasing products based solely on the brand name and ignoring other product specifics, resulting in skin problems. Thus, the excessive use of skin care products is a major challenge for the market growth.

Some of the prominent players in the global skin care products market include:

• Colgate-Palmolive Company
• L’Oreal S.A.
• Procter & Gamble
• Unilever
• Coty Inc.
• Shiseido Co. Ltd
• Avon Products Inc.
• Revlon
• Beiersdorf AG
• Johnson & Johnson Inc.

Segments Covered in the Report

By Gender

• Male
• Female

By Products

• Face Creams & Moisturizers
• Cleansers & Face Wash
• Sunscreen
• Body Creams & Moisturizers
• Shaving Lotions & Creams
• Face Masks
• Others

By Distribution Channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Pharmacy & Drugstore
• Online
• Others

By Category

• Premium Skincare Products
• Mass Skincare Products

By Ingredient:

• Chemical
• Natural

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Philippines
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa

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